Welcome to our dedicated page for Aquestive Therapeutics SEC filings (Ticker: AQST), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Aquestive Therapeutics, Inc. filings document the regulatory, financial, governance, and capital-structure disclosures of a specialty pharmaceutical company built around oral-film drug delivery, proprietary product candidates, and CDMO/licensee manufacturing. Its 8-K reports include FDA communications and Regulation FD materials for Anaphylm™, financial results, investor presentations, and material agreements related to revenue-sharing, warrants, and common-stock purchase commitments.
Proxy materials describe annual-meeting voting matters, director elections, executive compensation, auditor ratification, and board governance. Other current reports record officer-transition matters, compensatory arrangements, exhibits, and product-development updates tied to the company’s regulatory strategy.
Aquestive Therapeutics reported Q3 2025 results, showing revenue of $12.8 million and a net loss of $15.4 million. Year-to-date revenue was $31.5 million with a net loss of $51.9 million as the company continued to invest in R&D and commercialization.
Cash and cash equivalents were $129.1 million as of September 30, 2025. The capital position was bolstered by a public offering completed on August 14, 2025 for 21.25 million shares at $4.00 per share, generating $79.9 million in net proceeds, and by 7.46 million shares sold under the ATM program year-to-date for $21.3 million in net proceeds. Shares outstanding were 121,658,113 at quarter-end and 122,003,113 as of November 3, 2025.
Manufacture and supply revenue rose year over year in Q3 to $11.5 million, while license and royalty revenue declined due to prior year one-time deferred revenue recognition. Selling, general and administrative expenses increased to $15.3 million in the quarter. Customer concentration remained high, with Indivior representing approximately 72% of nine-month 2025 revenue and Hypera 18%.
The company also disclosed an August 13, 2025 agreement with funds managed by RTW Investments LP for a $75.0 million purchase price tied to FDA approval of Anaphylm and other conditions, with tiered U.S. revenue-share payments capped at $187.5 million by December 31, 2035 or $225.0 million thereafter.
Aquestive Therapeutics (AQST) furnished an 8-K announcing its third-quarter 2025 financial results and recent business updates. The company attached a press release and financial schedules as Exhibit 99.1 and provided an investor presentation as Exhibit 99.2.
The materials are furnished, not filed, under Items 2.02 and 7.01. The investor presentation is also available on the company’s website under Investors > Events and Presentations.
Aquestive Therapeutics (AQST) Chief Operating Officer reported transactions on 10/15/2025. The officer exercised 25,000 non-qualified stock options at a $3.1027 exercise price (code M) and sold 67,575 shares at an average price of $7.01 (code S), pursuant to a Rule 10b5-1 trading plan.
Following the transactions, the officer beneficially owned 240,771 shares directly and 2,000 shares indirectly by spouse. The reported option, granted on June 10, 2021, is fully vested and shows 0 derivative securities remaining after the exercise.
Aquestive Therapeutics (AQST) reported an insider transaction: the Chief Medical Officer sold 20,272 shares of common stock on 10/15/2025 at a weighted average price of $7.00, with individual trades ranging from $7.00 to $7.02, executed under a Rule 10b5-1 trading plan.
After the transaction, the reporting person beneficially owned 282,475 shares, held directly.
Aquestive Therapeutics (AQST) reported an insider transaction on a Form 4. An officer sold 10,000 shares of common stock at $7 on 10/15/2025, reported with transaction code S.
The filing states the sales were effected pursuant to a previously adopted Rule 10b5-1 trading plan. Following the transaction, the reporting person beneficially owns 268,323 shares, held directly. The officer’s title is SVP IT, HR, & Communications.
Aquestive Therapeutics, Inc. filed a current report describing new intellectual property protection for its allergy-treatment candidate. The company announced that the United States Patent and Trademark Office has issued two additional U.S. patents related to Anaphylm™, its novel epinephrine prodrug sublingual film. The report also notes that a detailed press release describing these patents is provided as Exhibit 99.1.
Aquestive Therapeutics, Inc. furnished an investor presentation for use in meetings with institutional investors, analysts and others. The presentation, dated October 2025, is attached as Exhibit 99.1 and is also available in the Investors section of the company’s website.
The information is being provided under a current report and is designated as “furnished,” meaning it is not subject to the liability provisions of Section 18 of the Exchange Act and is not automatically incorporated into other securities law filings unless specifically referenced.
Daniel Barber, President and CEO and a director of Aquestive Therapeutics (AQST), reported the sale of 91,343 shares on 09/26/2025 under a previously adopted Rule 10b5-1 trading plan. The sales were executed at prices ranging from $6.00 to $6.11 per share, with a weighted average price of $6.0343. After the reported transactions, Mr. Barber beneficially owned 923,430 shares. The filer notes they will provide, upon request, details on the number of shares sold at each separate price.
Aquestive Therapeutics (AQST) insider sale: Peter E. Boyd, an officer serving as SVP IT, HR & Communications, reported a sale of 10,000 shares of the company’s common stock on 09/26/2025 at a price of $6.30 per share. After the transaction he beneficially owned 278,323 shares. The filing states the sales were effected under a previously adopted Rule 10b5-1 trading plan. The Form 4 was signed by attorney-in-fact Lori Braender on 09/29/2025.
Aquestive Therapeutics (AQST) Form 144: A notice reports a proposed sale of 10,000 shares of the issuer's common stock through Merrill on 09/26/2025 with an aggregate market value of $63,000. The company has 99,723,635 shares outstanding, per the form. The shares to be sold were originally acquired via a stock option that vested on 05/11/2018 (acquisition amount recorded as 49,439 shares). The filing also discloses a recent sale by Peter Boyd of 15,000 shares on 09/05/2025 for gross proceeds of $79,500. The filer affirms no undisclosed material adverse information and includes the standard Rule 144 and 10b5-1 representations.